Al-Heneidy: Buying and selling is not the only bond between KFH and the merchants

During a lecture at the Faculty of Arts about developing the relation with suppliers

The Manager of Al-Murabaha Department at Kuwait Finance House (KFH) Talal Ibrahim Al-Heneidy, stated during a lecture at the Faculty of Arts in Keifan, that KFH works with more than 5 thousand suppliers every year. These suppliers represent an important and diverse category of high caliber merchants, who deal with various basic commodities in the market. The relationships with these merchants take various shapes of support that surpasses the nature of the commercial business, which is based on making profits only, to a universal goal. This makes KFH organize training, entertaining and athletic programs. It also supports marketing activities and events, which are organized by numerous companies and institutions. This symbolizes the strategic goal that KFH is working on to achieve, which is to cater to the Kuwaiti merchant and product, and to reinforce the economical status in general.
Al-Heneidy explained during his lecture "The social role in developing the relations with merchants and suppliers", that KFH organized during the past 10 years 28 training courses. 760 employees from multi business companies and commercial institutions participated in these training courses. Various administrative levels of sales clerks, managers and company owners participated in the courses. These training courses had various topics, which included marketing, administration, sales skills, dealing with and catering to clients, financial analysis, and others. These courses are organized according to viewing the needs of companies, market development, problems circulating in the business field, and the importance of implementing solutions for them. This means that the training goes hand in hand with reality. Moreover, sports tournaments were organized in football and volleyball during the last 4 years, where more than 1870 employees from major companies, agents, and merchants participated in them. Some trips, cultural and entertaining activities were organized also, the last one being an "Omrah" that included 60 employees from many companies. Al-Heneidy added that, "KFH, the main key market player is responsible for sponsoring and organizing many marketing festivals in certain commodities' markets. This had the greatest effect in boosting the sales of merchants, flourishing the market and proving thousands of clients with their needs. KFH organizes every year for the past 15 years a big party, where Kuwaiti merchants who excelled, are honored. This party is rendered as an annual occasion to praise high performers and distinguished services providers. This reinforces competition and strengthens the growth fields. It also boosts activities and various services."
Market maker
Al-Heneidy stated that KFH's work in commodities markets and most of its deals that are based on buying then selling, plus its role as a main market maker, made it possess excellent commercial relations with suppliers. KFH continuously works on developing and reinforcing these relations, by participating in several activities. KFH believes in the importance of the supplier and merchant's role, which represents an important part in the selling process. Moreover, KFH considers them partners in success and any distinguished performance in catering to suppliers is positively reflected on the client service of KFH. Serving the client in the best way possible is one of the strategic goals of the management and the relentless efforts to face the competition and increase our m

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Kuwait Finance House (KFH) is considered a pioneer in the banking phenomenon known as Islamic Finance or Shari’a Compliant Banking. KFH is the first Islamic bank established in 1977 in the State of Kuwait and today it’s one of the foremost Islamic financial institutions in the world.